Extension Letter to Lock Up Agreement between American Capital, Ltd. and Wachovia Bank, N.A. (March 9, 2010)
This letter agreement, dated March 9, 2010, is between American Capital, Ltd. and Wachovia Bank, N.A., acting as Administrative Agent. It extends the deadline specified in Sections 4(ii)(A)(1) and 4(ii)(A)(2) of their existing Lock Up Agreement from March 15, 2010, to March 31, 2010. Both parties confirm their agreement to this extension by signing the letter. The extension allows additional time for obligations or actions required under the original Lock Up Agreement.
Exhibit 10.1
March 9, 2010
American Capital, Ltd.
2 Bethesda Metro Center
14th Floor
Bethesda, MD 20814
Attn: Compliance Officer
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
| Attn: | Christopher Aidun Jeffrey Tanenbaum Debra Dandeneau |
Ladies and Gentlemen:
Reference is made to the Lock Up Agreement, dated as of November 20, 2009 (the “Lock Up”), by and among American Capital, Ltd., a Delaware corporation (the “Company”), and each of the creditors party thereto (the “Consenting Creditors”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Lock Up. This letter is to confirm that the Company and the Administrative Agent hereby agree to extend the date of “March 15, 2010” to “March 31, 2010” in both Section 4(ii)(A)(1) and Section 4(ii)(A)(2) of the Lock Up in accordance with the terms therein.
If the above correctly reflects our understanding with respect to the foregoing matters, please so confirm by signing the enclosed copy of this letter.
| Very truly yours, | ||
| WACHOVIA BANK, N.A., as Administrative Agent | ||
| By: | /s/ Mike Romanzo | |
| Name: | Mike Romanzo | |
| Title: | Director | |
Agreed to and accepted as of the date first set forth above:
| AMERICAN CAPITAL, LTD. | ||
| By: | /s/ Samuel A. Flax | |
| Name: | Samuel A. Flax | |
| Title: | Executive Vice President and General Counsel | |
